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    Bridge Financing

    OVERVIEW

    Ready Capital provides short-term, non-recourse bridge and mezzanine loans nationwide on transitional, value-add and event-driven commercial and multifamily real estate. We lend up to $45 million (larger for select assets and portfolios) for middle-market and institutional commercial real estate sponsors, and larger on a case-by-case basis.

    We provide floating and fixed rate terms to five years for multifamily, office, retail, industrial, mixed-use, self-storage, student housing, hospitality, residential and commercial condo, and specialty use properties. We consider the full range of value add strategies and deliver structured finance solutions backed by experienced bridge lending professionals.

    Check out our most recent transactions and client testimonials:

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    $6,600,000
    Purchase
    Bridge
    Office
    3 Year Term
    Greenwood, IN
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    $22,600,000
    Refinance and Stabilization
    Bridge
    Mixed Use
    4 Year Term
    Charlotte, NC
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    $13,900,000
    Rate/Term Refinance
    Bridge
    Retail
    3 Year Term
    Santa Monica, CA
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    $4,700,000
    Purchase
    Bridge
    Multifamily
    3 Year Term
    Los Angeles, CA
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    $6,200,000
    Purchase
    Fixed rate
    Retail
    2 Year Term
    Sacramento, CA
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    $2,600,000
    Rate/Term Refinance
    Bridge
    Retail
    5 Year Term
    Jacksonville, FL
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    $16,200,000
    Purchase
    Bridge
    Various Property Types - Portfolio
    3 Year Term
    Los Angeles, CA
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    $7,500,000
    Purchase
    Bridge
    Multifamily
    3 Year Term
    Houston, TX
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    $11,900,000
    Purchase
    Fixed rate
    Student Housing
    3 Year Term
    Normal & Champaign, IL
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    $10,200,000
    Purchase
    Bridge
    Multifamily
    5 Year Term
    West Valley City , UT
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    $20,100,000
    Purchase
    Fixed rate
    Mixed Use
    7 Year Term
    Costa Mesa, CA
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    $7,950,000
    Purchase
    Bridge
    Retail
    3 Year Term
    Miami, FL
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    $25,800,000
    Purchase
    Bridge
    Multifamily
    3 Year Term
    San Antonio , TX
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    $38,900,000
    Purchase
    Bridge
    Multifamily
    3 Year Term
    San Antonio, TX
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    $7,900,000
    Purchase
    Bridge
    Retail
    3 Year Term
    Miami (Wynwood), FL
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    $28,300,000
    Purchase
    Bridge
    Multifamily
    3 Year Term
    Houston , TX
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    $14,500,000
    Purchase
    Bridge
    Multifamily
    3 Year Term
    Portland , OR
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    $7,860,000
    Purchase
    Bridge
    Multifamily
    3 Year Term
    Freeport, TX
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    $5,590,000
    Rate/Term Refinance
    Bridge
    Multifamily
    2 Year Term
    Houston, TX
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    $4,930,000
    Purchase
    Bridge
    Retail
    3 Year Term
    Miami, FL
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    $11,960,000
    Purchase
    Bridge
    Office
    3 Year Term
    Charlotte, NC
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    $8,400,000
    Purchase
    Bridge
    Retail
    3 Year Term
    Charlotte, NC
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    $8,900,000
    Purchase
    Bridge
    Multifamily
    2 years Year Term
    Tampa, FL
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    $7,570,000
    Purchase
    Bridge
    Industrial
    3 Year Term
    Charlotte, NC
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    $33,325,000
    Rate/Term Refinance
    Bridge
    Office
    3 Year Term
    Chicago, IL
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    $8,240,000
    Rate/Term Refinance
    Bridge
    Mixed Use
    3 Year Term
    Los Angeles , CA
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    $12,760,000
    Purchase
    Bridge
    Multifamily
    3 Year Term
    San Antonio , TX
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    $16,360,000
    Purchase
    Bridge
    Multifamily
    3 Year Term
    San Antonio , TX
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    $25,070,000
    Purchase
    Bridge
    Mixed Use
    3 Year Term
    Denver, CO
    $5,000,000
    purchase
    Bridge
    Retail
    2 Year Term
    Los Angeles, CA
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    $5,500,000
    purchase
    Bridge
    Multifamily
    3 Year Term
    New York, NY
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    $7,848,475
    Rate/Term Refinance
    Bridge
    Office
    3 Year Term
    Chicago, IL
    $1,520,361
    Rate/Term Refinance
    Bridge
    Multifamily
    2 Year Term
    Philadelphia, PA
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    $2,585,000
    Purchase
    Bridge
    Multifamily
    2 Year Term
    Decatur, GA
    $1,350,000
    Purchase
    Bridge
    Multifamily
    Year Term
    Minneapolis, MN
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    $4,700,000
    Purchase
    Bridge
    Multifamily
    2 Year Term
    Houston, TX
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    $13,400,000
    Purchase
    Bridge
    Industrial
    3 Year Term
    Tampa, FL
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    $1,730,000
    Purchase
    Bridge
    Multifamily
    1 Year Term
    Bridgeport, CT
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    $3,400,000
    Purchase
    Bridge
    Multifamily
    3 Year Term
    Houston, TX
    $1,350,000
    Purchase
    Bridge
    Multifamily
    1 Year Term
    Panama City, FL
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    $3,100,000
    Cash-Out Refinance
    Bridge
    Retail
    2 Year Term
    Baltimore, MD
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    $2,765,000
    Purchase
    Bridge
    Industrial
    2 Year Term
    San Antonio, TX
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    $2,150,000
    Purchase
    Bridge
    Multifamily
    2 Year Term
    Athens, GA
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    $2,677,000
    Purchase
    Bridge
    Multifamily
    2 Year Term
    Fort Lauderdale, FL
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    $7,936,500
    Rate/Term Refinance
    Bridge
    Multifamily
    2 Year Term
    Various, TX
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    $8,800,000
    Purchase
    Bridge
    Multifamily
    3 Year Term
    Largo, FL
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    $28,800,000
    Rate/Term Finance
    Bridge
    Mixed Use
    3 Year Term
    New York, NY
    $2,720,000
    purchase
    Bridge
    Multifamily
    1 Year Term
    Golden, CO
    $12,140,000
    Cash-Out Refinance
    Bridge
    Mixed Use
    2 Year Term
    Bronx, NY
    $8,930,000
    Rate/Term Refinance
    Bridge
    Retail
    3 Year Term
    Livonia, MI
    $8,000,000
    purchase
    Bridge
    Multifamily
    3 Year Term
    Los Angeles, CA
    $4,818,750
    purchase
    Bridge
    Office
    3 Year Term
    Tustin, CA
    $4,700,000
    purchase
    Bridge
    Office
    3 Year Term
    Houston, TX
    $2,435,500
    purchase
    Bridge
    Multifamily
    3 Year Term
    Los Angeles, CA
    $6,150,000
    purchase
    Bridge
    Multifamily
    3 Year Term
    Charlotte, NC
    $10,420,000
    purchase
    Bridge
    Office
    3 Year Term
    Atlanta, GA
    $11,500,000
    purchase
    Bridge
    Office
    2 Year Term
    Miami, FL
    $2,888,500
    purchase
    Bridge
    Multifamily
    3 Year Term
    Los Angeles, CA
    $4,058,900
    purchase
    Bridge
    Multifamily
    3 Year Term
    Los Angeles, CA
    $6,000,000
    purchase
    Bridge
    Mixed Use
    2 Year Term
    New York, NY
    CRITERIA

    PRODUCT OVERVIEW

    • Transitional, value-add and event-driven real estate opportunities
    • Highly structured loan solutions
    • Financing customized to borrower business plan
    • Loan size: up to 80% of project cost, 85% senior stretch deal specific
    • Term: floating rate up to five years including extensions
    • Prepayment: minimum interest
    • Future Funding: Capex, TI/LC, earnouts, interest and operating reserves
    • Fixed and fixed/floating hybrid loan solutions
    CONTACT

    Contact a Production Officer or a member of our production team for more information for your area or market. All of our Production Officers have the ability to lend nationwide. If you need further information, please contact bridgecre@readycapital.com.

    National Bridge Originations Team:
    David A. Cohen Managing Director East Coast Jordan Goforth Executive Director West Coast Mark Blaha Director Midwest David Kwitman Director East Coast Fernando Mendez Director East Coast Alex Gursky Vice President East Coast
    National Loan Originations Team:
    Lisa Cappelletti Executive Director CA Joel Covington Director NY John Drennan Director NY Dan Gaylord Vice President TX Russell Grigg Vice President FL Oliver Harris Vice President DC Kevin Leonard Vice President NC John DePasquale Vice President NY
    Strategic Partnership Team:
    Michel Gilbert Executive Director TX Jeffrey Bottoms Vice President TX Brian Callom Vice President TX Craig Castaldi Vice President TX Eli Smith Vice President TX
    Back to News
    Ready Capital Announces Strong Q1 Results for Freddie Mac Business
    07/27/2018

    Commercial Lender Builds on Outstanding 2020 Results

    Ready Capital announced strong results for its Freddie Mac Small Balance Loan (SBL) business during the first quarter, extending into 2021 the increased volume of deals seen by the company in 2020. During the first quarter of 2021, Ready Capital closed 62 Freddie Mac SBL and small multifamily Bridge-to-Agency loans totaling $164 million in funding, with a pipeline of over $225 million. The recent quarter’s result builds on the company’s success during calendar year 2020, during which Ready Capital had closed 192 Freddie Mac SBL and small multifamily Bridge-to-Agency loans totaling $545 million in funding.

    “The market demand for the Freddie Mac SBL product continued to be elevated into the first quarter of 2021 with approximately $1.4 billion in permanent and small multifamily bridge financing requests, capping off a strong 2020 despite headwinds from the pandemic,” said Anuj Gupta, President of Commercial Real Estate Lending at Ready Capital. “Furthermore approximately 71% of our production to date meets the criteria for mission-driven, affordability housing, aligning us with the long-term goals of the Agencies.”

    In addition to announcing the volume of transactions, Ready Capital also highlighted the geographic diversification of the deals closed by its national lending team. During the first quarter of 2021, the company funded a significant volume of transactions in California, Illinois, Texas, and Colorado and closed additional deals in 10 more states.

     

     

     

     

    Premier Transactions

    Ready Capital closed $164 million during the first quarter of 2021 and $545 million during 2020 in Freddie Mac SBL and small multifamily Bridge-to-Agency loans. Individual deals ranged in size from $1 million to $7.5 million with terms ranging from 1 years to 20 years. Average LTV for the Freddie Mac SBL loans was approximately 65.

    Portfolio name Number of deals in portfolio Sum of balance (millions) Notes
    Portfolio 1 12 $40.0 Cash Out Refinance

    Partial IO, 7 Year term

    Southern California
    Portfolio 2 3 $15.5 Purchase

    Amortizing, 10 Year term

    Chicago and suburbs
    Portfolio 3 2 $4.4 Cash Out Refinance

    Partial IO, 10 Year term

    San Diego area
    Portfolio 4 2 $2.4 Purchase

    Amortizing, 10 Year term

    San Diego area
    Portfolio 5 2 $2.5 Purchase and Cash Out Refinance

    Amortizing, 10 Year term

    Greater Seattle

     

     

    Large Balance Deals Balance (millions) Notes
    Loan 1 $5.0 Purchase

    Amortizing, 10 Year term

    Arizona, very small market
    Loan 2 $4.2 Purchase

    Partial IO, 10 Year term

    Dallas area
    Loan 3 $3.5 Cash Out Refinance

    Amortizing 7 Year term

    Portland, Oregon region
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    Back to News
    CAREERS

    Interested in working with one of the fastest growing commercial mortgage REIT’s in the industry?

    Ready Capital is always looking to add experienced and driven professionals to expand and grow with our company. We are continually searching for experienced professionals within the industry by offering a work environment thriving on collaboration and a corporate culture of employees who are passionate and excited about what they do.

    Find out what job positions are open in your area.

    View Open Positions
    SUBMIT A REQUEST

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